"[W]e're relying on the knowledge of people who live and work on or near the sea, and who might have noticed something out of the ordinary, either in a fishing net, or at an especially low tide."-Dr. Jonathon Benjamin

The very real process behind shipwrecks and sunken treasure was illustrated in the capsizing of the luxury cruise liner Costa Concordia on January 13, 2012, off the coast of Giglio, Italy. In spite of the allure of sunken treasure, it is right to remember that it is often a product of tragedy and loss of life. Rescue divers stopped looking for bodies on January 31, 2012, and there are 32 estimated deaths from this incident. The next step is to remove the fuel and other pollutants from the ship. Some people suggest that treasure hunters will want to jump right in the water on this one.

In the aftermath of the horrible tragedy of the Costa Concordia, UNESCO urges world heritage ports to improve reevaluate maritime traffic routes and reexamine emergency plans. Over 300 cruise ships visit the City of Water every year.

South Street Seaport Museum re-opens doors after severe cuts and financial hardship shut down the museum for nearly a year. New exhibits on display includes photography from the Occupy Wall Street movement.

The HMS Olympus (submarine) sunk in May of 1942 after striking a mine after departing Malta Harbour. Discovered during a side-scan sonar survey by Aurora Trust, the vessel appears to be in great condition. It was discovered some time ago, but has recently been identified as the Olympus.

What's next for the HMS Victory? Recovery of historical artifacts. The Maritime Heritage Foundation, along with Odyssey Marine Exploration, will begin recovering artifacts after the completion of an archaeological survey through Odyssey's ROV. The chairman of the foundation, Lord Lingfield, is actually related to one of the 1,000 men who drowned with the ship, Admiral Sir John Balchin.